Low Unemployment Rate Wasn’t Due to Luck: Australian Treasurer

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Australia’s unemployment rate remained unchanged in March 2022, which failed to meet economists’ expectations but still gave confidence to authorities. Earlier, economists had anticipated the unemployment rate to drop slightly to 3.9 percent in March, reaching the lowest level since the 1970s. New workforce data from the Australia Bureau of Statistics (ABS) showed that the jobless rate still stayed at a 14-year low of four percent during the month, though there was a minimal dip in the number of unemployed people. However, when taken to two decimal places, economists said the actual rate was 3.95 percent, the lowest figure since 1974. “Our economic plan is working. An economic plan that helps steer Australia through the biggest economic shock since the great depression.” Treasurer Josh Frydenberg told reporters in Melbourne. ...

Source: https://www.theepochtimes.com/low-unemp ... 06114.html